Fla. man arrested on charge of gulling Connecticut yachtsmen

By Alexander Soule

Updated 5:47 pm, Wednesday, December 6, 2017

Photo: Wilfredo Lee / Associated Press

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On Dec. 6, 2017, prosecutors unveiled charges against a Florida man who they claim hit up investors in Connecticut and nationally to back a yacht-sharing service, only to spend half the proceeds for his own use. (AP Photo/Wilfredo Lee) less

On Dec. 6, 2017, prosecutors unveiled charges against a Florida man who they claim hit up investors in Connecticut and nationally to back a yacht-sharing service, only to spend half the proceeds for his own ... more

Photo: Wilfredo Lee / Associated Press

Fla. man arrested on charge of gulling Connecticut yachtsmen

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Federal prosecutors in Connecticut unveiled an indictment against a Florida man charged with duping investors into backing a global yacht-sharing service, then allegedly spending some of the cash he raised for his own benefit.

According to the office of John Durham, U.S. Attorney for the District of Connecticut, Fort Lauderdale, Fla. resident Andrew Deme ran Waters Club Holdings Inc. offering member access to a fleet of yachts in top tier destinations, with crews ready “to cater to ... every desire” in the words of the company’s website.

Durham’s office contends that Deme, 51, used half of the funds he raised for his own purposes, with the indictment not specifying amounts or victims of the alleged scheme by name. Deme was arrested in Florida on Tuesday and released on $100,000 bond.

Deme is fighting a separate lawsuit from a Fort Lauderdale marina seeking payment of amounts it claims are due for its berthing and related work of the 116-foot yacht on Acqua, included in the Waters Club fleet.